The hub is expected to roll out from the second half of 2020
Unite Global announced to have got $5.25 million in funding to launch its UNITE banking payments hub. UNITE is expected to give banks a minimum risk solution to meet customer expectations.
Data revealed that Svea Ekonomi, a Swedish financial group, took a 4.95% share of Unite Global in return, valuing the company at $106 million.
From 8 to 12 partner banks will be chosen to create a community offering instant global payment ability for any bank connected into the hub. The hub will select its partners focused on their in-country instant payment presence. The banks to be chosen will share global payment incomes with UNITE.
The hub will be accessible through API, ensuring minimal disruption and minimum cost while connecting to the future bank partners.